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Millennial Parents’ Guide to Financial Planning Is the RESP outdated? Will it actually be able to help our children 18 years from now? Both excellent questions and we are so glad you asked.  Let’s go Back in Time The RESP started back in 1972 and was used to help parents save money […]

Think about the Canada Child Benefit (CCB) like this: what would you do if you found $100 bill on the sidewalk in front of your house Every Month? How happy would you be? Now for the philosophical question: would you spend it or save it? If you’re like most people today, you’d […]

Millennial Parents Guide To Financial Planning For Children The average Canadian family with two kids will get about $200 more next year and about $500 more in 2019 through the Canada Child Benefit (CCB). And that’s just one advantage. _____ The recent increase in the CCB was a welcomed gift to families […]

Parents have started to realize that the RESP is not the solution to their children’s education costs but may be the beginning of their problems. For over 20 years the banks, group RESP companies, and governments have promoted to new parents that the RESP is the only solution to saving for their […]

Is this it? Is the RESP the only option for my child’s future? As parents, we want our children to have a better life than us. But today our children are drowning in student debt. When I went to university my tuition in Montreal was $960 a semester. When I graduated I […]

You’d think the 2008–2009 debacle would’ve shaken some sense into the country’s money people. You’d think it would’ve forced them to question everything they do. You’d think they’d see that the same old way was clearly not the way. And you’d think they’d have started with probably the most important issue we […]

Banks won’t tell you about Participating Whole Life Insurance plans as an alternative to RESP for your child’s education and future. For over a century, banks were viewed by Canadian families as trusted community partners who provided advice to help manage their financial lives. You walked into your branch, spoke with your […]

Canadians have always believed their Banks could be trusted for advice on where to invest for their future and their money and their children’s. But that is now in question when the CBC exposed that bank employees are forced to sell and at times deceive customers on fees they pay and load […]

Are 50% of parents not using RESP to save for their child’s education because of restrictions on where their child can go to school and what they can study? In 2015 only 50.1% of parents in Canada which children who qualified for an RESP opened one to save for their child’s future […]

This is a continuing blog in the series Millennial Parents’ Guide to Financial Planning for Children. Imagine how it would feel to help your child build a life free of debt. A life where they not only had complete freedom to choose where in the world they want to go to university […]